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RE: [RT] Why Fibonacci Numbers work and Number crunching doesn't



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Clyde,

I did EXACTLY that for you Clyde, but not surprisingly, NO ONE
Even commented on the chart.  I guess that pretty much sums the
Case up.  Ignore the evidence because it doesn't' suit us.  

When will you understand Clyde that simply because your number 
crunching doesn't work doesn't mean the technique has no validity.
No one techniques works all the time....you should know that.
Don't become an economist and do bogus analysis work.  I know
You think taking large slabs of data and throwing it all into
The computer with some equation to be tested is the way to prove
Or disprove something, but your wrong. Markets are FAR FAR more
Complex than that.  

Do you honestly believe that if for example you had found that 
Markets stopped on 61.8% retracements 70% of the time, it would 
Continue like that?  Of course not.  

MARKETS ARE NOTHING LIKE ENGINEERING OR GEOPHYSICIST WORK.  

Engineers often become technicians because they think they can apply
Their engineering formula to the markets. It doesn't work.  Markets
don't
Operate by formula except the non-linear dynamic ones.  Try using
One of those Clyde when doing your swing analysis.  Tel me how you fare
On discovering where the strange attractors lie in the market.  Tell me
How you discovered that after passing these incredible point the markets
Seem to enter a new paradigm. People have done this work and benefited
>From it. But simple number crunching using one formula across all data
Is just a waste of time except for very general ideas about market 
behaviour.  

Adrian

> -----Original Message-----
> From: Clyde Lee [mailto:clydelee@xxxxxxxxxx] 
> Sent: Wednesday, 17 July 2002 1:11 PM
> To: realtraders@xxxxxxxxxxxxxxx
> Subject: Re: [RT] Why Fibonacci Numbers work and Number 
> crunching doesn't
> 
> 
> Don,
> 
> I am not arguing that you are wrong in using something that 
> you believe in.
> 
> What I am saying is that you see what you want to see when 
> you want to see it and ignore all other evidence.
> 
> I have taken the SPC over the time period you posted as an 
> attachment to your following post.
> 
> I used an automatic pivot picking based on the behavior of 
> prices over a 21 bar interval and I believe this duplicates 
> your pivots, if not exactly then so damn close that if it 
> were a train I would not like to be that close to it.
> 
> Now, given these pivots I have computed ratios of legs back 
> to 1996 and posted these ratios at the end of each leg  
> Junk.gif.  More ratios of more legs were computed and are in 
> a file/picture attached.
> 
> I also made a plot of these data sorted by ratio and  
> Junk0.gif  is a picture of the details of these computations 
> and the graph of the ratios so sorted.
> 
> I now ask that you examine  A-L-L  of these legs and defend 
> your position relative to the value and determination of FIB numbers.
> 
> The attached file contains the detail of these computations.
> 
> Please understand, I'm saying that on a consistent overall 
> basis over even reasonable size samples the FIB concept of 
> leg price/time length as a function of the prior leg is not valid.
> 
> I think this horse has been ridden as long as it should be.  
> Those of you who believe that you have developed a method of 
> using fibs should take the time to try to provide us with an 
> insight to how/why/when you use them and what you expect from 
> such use.
> 
> If there is some special technique for picking pivots for 
> computations of Fib points then it would be wonderful if you 
> could define such methods so that those of us who are 
> doubtful could truly evaluate what you say you do.
> 
> Unless something entirely new comes up on this subject then I 
> am through with this subject.
> 
> 
> Clyde
> 
> 
> - - - - - - - - - - - - - - - - - - - - -  - - - - - - -
> Clyde Lee   Chairman/CEO          (Home of SwingMachine)
> SYTECH Corporation          email: clydelee@xxxxxxxxxxxx
> 7910 Westglen, Suite 105       Office:    (713) 783-9540
> Houston,  TX  77063               Fax:    (713) 783-1092
> Details at:                      www.theswingmachine.com
> - - - - - - - - - - - - - - - - - - - -  - - - - - - - -
> 
> ----- Original Message -----
> From: "Don Ewers" <dbewers@xxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Tuesday, July 16, 2002 7:35 PM
> Subject: Re: [RT] Why Fibonacci Numbers work and Number 
> crunching doesn't
> 
> 
> > Clyde,
> > It is not a very few examples, as you have "continued to state".
> >
> > Your posisition seems to be, if you can't "program it", it does not 
> > exist?
> >
> > I say, every day, in every time frame, I use it constantly, almost 
> > more
> than
> > any other tool.  What you call " isolated" occurs all the 
> time, and it 
> > is "not isolated"?
> 
> 
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